Receiving inheritance from abroad
Receiving an inheritance can be an emotional experience. Whether you’ve been left some money, property or other assets, we’re here to help protect your assets from currency risk as they cross borders.
Your dedicated currency specialist will track market movements and provide insights to help you transfer your funds smoothly and cost-effectively. Whether it’s a lump sum or ongoing payments, we’ll make the process simple so you have the headspace to focus on what matters.
- Tips when receiving inheritance from abroad
- Country specific resources for receiving inheritance from abroad
- How Lumon can help with your international inheritance transfer
- Frequently asked questions about receiving inheritance from abroad
- We’ve got you covered
- What our customers are saying
- We’re here to help
- Better rates than the high-street banks
Tips when receiving inheritance from abroad
If you’re a UK resident inheriting assets from overseas, there are key factors to consider, from foreign inheritance laws to tax implications once the assets become yours.
Understand inheritance laws: Tax laws vary by country and some don’t tax inheritance at all. A local legal expert can clarify what applies to you.
Check the domicile status of your loved one: Someone’s ‘domicile’ status means where their permanent home is considered for legal or tax purposes. Your loved one’s domicile status will determine which country can apply inheritance tax to their assets.
Know who pays the tax: Some countries deduct inheritance tax from the estate before it reaches you, while others tax beneficiaries directly.
Plan for exchange rate changes: Exchange rate shifts can influence the final amount you receive for the assets you’ve inherited.
Factor in future taxes: Once inherited, assets generating income (e.g., rental income or dividends) may be taxable in the UK.
Country specific resources for receiving inheritance from abroad
Our inheritance tax series explains what UK residents need to know when inheriting assets from abroad, covering everything from foreign inheritance laws to managing your assets after they’ve been inherited.
How Lumon can help with your international inheritance transfer
Register for an account
Sign up online or over the phone in minutes to start the process.
Send us the funds
Transfer your inheritance via bank transfer.
Secure your rate
Lock in a competitive exchange rate to maximise the value of your inheritance.
We handle the transfer
Your funds will be exchanged and sent securely to your chosen account.
Frequently asked questions about receiving inheritance from abroad
How long does it take to receive inheritance from abroad?
The timeframe varies depending on the country’s legal process, the complexity of the estate, and whether probate is required. International transfers may also take additional time due to banking procedures and currency exchange.
How much can you inherit without paying tax in the UK?
Inheritance Tax (IHT) in the UK applies to the estate of the deceased, not the person inheriting. The standard tax-free threshold (nil-rate band) is £325,000. If the estate’s value exceeds this, 40% tax may be due on the amount above the threshold.
However, tax rules can be complex and may change over time. It’s always best to consult a tax professional or legal expert to ensure you understand your obligations and any potential reliefs available.
How to avoid foreign property inheritance tax?
Avoiding foreign property inheritance tax depends on the tax laws of the country where the property is located. Some strategies, such as careful estate planning or making use of tax exemptions, may help reduce liability.
Since tax rules are complex and vary by jurisdiction, consulting a legal or financial professional is the best way to understand your options.
What happens if you inherit money from another country in the UK?
If you inherit money from abroad as a UK resident, you generally won’t pay direct tax on the inheritance itself. However, any income or gains generated from it – such as interest, rental income, or investment returns – may be subject to UK tax.
Since tax rules vary by country, it’s worth seeking professional advice to understand any obligations in the country where the inheritance originates.
Here to help you receive your inheritance quickly and hassle-free
We’re here to make receiving your inheritance as straightforward as possible so you can focus on what matters most.
Get a quoteWe’ve got you covered
Our team of currency specialists have the local market knowledge to help you navigate the process of buying a property abroad. With our international real estate expertise, we’re here to help make the process hassle-free.
Bank-beating exchange rates & no transfer fees
Cared for over 70,000 customers since 2000
Award-winning service
International & large transfer specialists
Bank-beating exchange rates
Maximising the value of your inheritance is important to us. Our bank-beating exchange rates can help you retain more of what you’ve received, offering a cost-effective alternative to banks.
We keep your funds safe
Ensuring your inheritance reaches you safely and swiftly is our main priority. With Lumon, you benefit from secure transfers, market insights and bank-beating exchange rates.
Supporting our customers
Great rates and service is friendly, safe, secure and absolutely reliable. Highly recommended.
What our customers are saying
Whether you’re buying a property abroad, sending a one off payment or require regular payments, we’re here to help.
We’re here to help
At Lumon, we know that exchange rates can be unpredictable, which is why careful planning is essential when receiving an inheritance from abroad. That’s why we assign you a dedicated account manager to help you manage currency risk at every stage – from transferring your funds to helping you get the most from your inherited assets.
Better rates than the high-street banks*
Get more euros for your money when you transfer £50,000 with Lumon.
*This chart is intended to represent the range of euro outcomes a consumer may achieve on a £50,000 transfer of pounds to euros, inclusive of fees and charges. Comparison data for the high-street banks is from FXC Intelligence (FXC Intelligence | Payments Market Data for Global Payments). Comparison data for the high-street banks utilises pricing data provided under licence from FXC Intelligence (FXC Intelligence | Payments Market Data for Global Payments), a specialist benchmarking tool, for transactions in March 2026. The Lumon rate is calculated by taking the GBPEUR spot rate from 2 March 2026 from the Bank of England (bankofengland.co.uk) and then applying the median FX cost percentage across 69 spot GBP to EUR transactions with a value in the range of £25,000-£50,000 performed by Lumon Pay Limited and associated Group Companies (Lumon Risk Management Limited, Lumon FX Europe Limited) for personal customers during March 2026. Please note the amounts above are based on data from March 2026, so do not reflect live dealing rates.